Kingdom Holding’s 2014 first half net profit surges 16.1%
Kingdom Holding Company Chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud announced the consolidated financial results for the second quarter and the six months ended June 30, 2014.
The company announced a net income for the quarter ended June 30, 2014 SR 211.7 million compared to the net income of SR 181.2 million for the same quarter in 2013, representing an increase of 16.8%, and compared to the net income of SR 126.4 million in the previous quarter, representing an increase of 67.5%. The gross operating profit for the quarter ended June 30, 2014 amounted to SR 420.3 million compared to the same quarter in 2013 of SR 332.9 million, representing an increase of 26.2%.
Mohammed Fahmy CFO, commented: “The second payment of dividends has been deposited in shareholders’ accounts. The outlook for the company’s profitability remains strong.”
Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHC is one of the world’s most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. The Company is recognized as one of the largest foreign investors in the United States.
KHC’s portfolio has its major interests in investment categories ranging from luxury hotels management hotel companies (Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Mövenpick Hotels, Resorts AG and Swissotel) and real estate (Kingdom Tower and project in Jeddah and Kingdom Riyadh project) to hotel real estate investments such as (The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel, Paris and other hotels).
KHC also has investments in Petrochemical (Tasnee) Media and Publishing (News Corporation and Saudi Research and Marketing Group), as well as in Entertainment (Euro Disney S.C.A). In addition, Finance and Investment services (Citigroup), Social Media and Technology (Twitter and Jingdong). Moreover, the Company has investments in Education (Kingdom Schools), Health Care (Medical Services Projects Company), Aviation (NAS Saudi Arabia) and Agriculture (Kingdom Agricultural Development Company – KADCO Egypt).